Reconciliation Compliance Terminology

The following table describes the key concepts in Reconciliation Compliance.

Concept	Description
Account Reconciliation	The process of analyzing account balances and providing a justification for the balances. Identify differences and make corrections.
Aging Buckets	Time periods that you define to age your reconciliation transactions in the Aging Analysis Dashboard. For example, you can define an aging bucket that includes reconciliation transactions from 1 to 30 days old. Aging buckets are defined in an aging profile.
Aging Profile	A collection of aging buckets.
Attributes	A parameter, or option, that controls how the function activity operates or defines characteristics of the function activity.
Frequency	Determines how often reconciliations are prepared and renewed. You define frequencies in system settings and associate them with profiles and periods.
Periods	Unit of time for which an Account Reconciliation is completed, for example, January 2016, February 2016.
Profiles	The precursor to reconciliations. Profiles contain the configuration settings that determine how and when reconciliations occur. Profiles are copied to the period, causing a reconciliation to be created that contains a snapshot of the profile at that time.
Reconciliations	An Account Reconciliation for a specific Period. Reconciliations consist of account balances (obtained from the Source System for the Period) and account properties (derived from the Account Profile and Format and subject to change independently of the profile).
Source System	One data repository within a system.